The Client - Braemar Seascope is a leading shipbroker that acts as an intermediary between shipowners and charterers who use their ships to transport cargo around the world. Braemar Seascope is part of Braemar Shipping Services Plc, a publicly quoted company with 2009 revenues of more than £127 million.

The Challenge

Courier, Office and IT consumables were big expenditure areas for Braemar and its associated companies although these had historically been paid little attention. In multi-site organisations, there are often disparate procurement processes and contract arrangements. This is a source of inefficiency and when this is consolidated and sourcing is standardised, significant benefits are achievable. This was identified as a target area where Cost and Efficiency Optimisation could be achieved to help boost profitability and have a sustainable future impact. We also believed improvements could be made so we were asked for a proposal on how we could achieve the goal.

What We Did

We conducted a CEO Assessment that compared current processes and contracts with our model of best practice. This included detailed cost and consumption profiling to identify and prioritise CEO opportunities. Based on the outcome we delivered a Value Optimiser project with recommendations on supplier rationalisation, process reconfiguration and standardisation of agreements across Braemar and its subsidiaries Wavespec and Cory Brothers. We also negotiated agreements with preferred suppliers on improved terms.

The Outcome

Annual savings of £71,000

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